(*2*)During the session, the rupee touched a excessive of 81.65 and a low of 81.84 in opposition to the greenback. On Wednesday, the rupee closed at 81.80 in opposition to the US foreign money.
Forex merchants mentioned important overseas fund inflows and crude oil costs buying and selling beneath USD 75 a barrel additionally supported the native unit.
The rupee edged up by 2 paise to settle at 81.78 (provisional) in opposition to the US greenback in a range-bound commerce on Thursday, monitoring the weak spot of the American foreign money within the abroad market.
Forex merchants mentioned important overseas fund inflows and crude oil costs buying and selling beneath USD 75 a barrel additionally supported the native unit.
At the interbank overseas trade market, the native unit opened larger at 81.68 in opposition to the US foreign money however later pared a number of the beneficial properties to shut at 81.78 (provisional), registering a acquire of 2 paise over its earlier shut.
During the session, the rupee touched a excessive of 81.65 and a low of 81.84 in opposition to the greenback. On Wednesday, the rupee closed at 81.80 in opposition to the US foreign money.
The greenback index, which gauges the dollar’s energy in opposition to a basket of six currencies, fell 0.04 per cent to 101.30. The US greenback retreated after the Federal Reserve hinted at a pause to its year-long price hike cycle following its newest 25 foundation level hike in rates of interest.
Global oil benchmark Brent crude futures rose 0.98 per cent to USD 73.04 per barrel.
The rupee opened the day sturdy in opposition to the greenback however gave up its beneficial properties because it fell in direction of 81.80 by the day, mentioned Jateen Trivedi, VP Research Analyst at LKP Securities.
The greenback index was seen buying and selling between 101.04-101.40, and overseas institutional traders (FII) have been internet consumers.
“Rupee vary may be seen between 81.50-82.00 after Fed’s desk hinted in direction of a dovish stance which might help the rupee going forward,” Trivedi said, adding that softening crude prices can also set a positive tone for the rupee.
On the domestic equity market front, the 30-share BSE Sensex advanced 555.95 points or 0.91 per cent to end at 61,749.25 points, and the broader NSE Nifty rose 165.95 points or 0.92 per cent to 18,255.80 points.
Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth Rs 1,338.00 crore, according to exchange data.
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